Adani Wilmar CEO On Tax Reforms

Adani Wilmar's MD & CEO, Angshu Mallick, highlighted the financial pressures on urban middle-class families, resulting in reduced spending on premium brands. Even in essential categories like kitchen staples, consumers opted for cheaper alternatives. The rising cost of edible oil, exacerbated by a 22% duty hike, further squeezed household budgets. Mallick believes recent tax reforms will be crucial in stimulating consumer spending on essentials, benefiting companies like Adani Wilmar and potentially revitalizing the FMCG sector.